Thursday, 19 April 2012

TDC drops because President & CEO goes to DONG Energy

Danish telecommunications company TDC A/S (OMX: TDC) shed almost 4% in a flash after it became known that President & CEO Henrik Poulsen is leaving the company to accept a similar position at Danish government owned energy company DONG Energy. The Board of Directors will start to search for a successor immediately.

The question of who will take the position at DONG, which became open when Anders Eldrup was sacked over what were called unusual contract terms for some key employees, had been creating a lot of speculation. Poulsen’s contributions at TDC have been widely recognized and investors think this news added an element of uncertainty.

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